Trade execution

Ontario rep fined $20,000 for unauthorized trading

An IIROC hearing panel has accepted a settlement agreement including sanctions between its staff and Michael Reid Ast. Ast admitted to engaging in discretionary trading over two decades—with clients’ consent, but without obtaining the necessary prior written authorization from the clients or his firm. Ast confessed to the following violation: Between 1991 and 2009, he […]

By Staff |July 26, 2012

1 min read

Industry

Ex-MGI Financial rep fined $150,000

A disciplinary hearing in the matter of Jose Luis Bautista, a mutual fund salesperson with MGI Financial Inc., was held yesterday before a three-person hearing panel of the MFDA’s Central Regional Council. It found Bautista guilty of the allegations set out in a notice of hearing dated January 23, 2012. They were: Allegation #1: Between […]

By Staff |July 13, 2012

1 min read

Industry

Investment firm fined $40,000

On June 18, 2012, an IIROC hearing panel accepted a settlement agreement between the IIROC staff and Portfolio Strategies Securities, a Toronto-based investment dealer. Portfolio Strategies failed to designate a supervisor qualified to oversee options trading at the firm from December 2009 to November 2010. It also didn’t supervise the activities of an agent and […]

By Staff |July 12, 2012

1 min read

Industry

Brit to make first trade in Space

One Briton is betting on astronomical returns.

By Staff |July 10, 2012

1 min read

IIROC proposes electronic trading rules

To address risks stemming from electronic trading, IIROC today issued a package of proposed rule changes to align market trading rules with the implementation of the Canadian Securities Administrators (CSA) N1 23-103 Electronic Trading.

By Staff |June 28, 2012

2 min read

Volcker Rule essential: CFA

Banks may be fighting the Volcker rule, but industry professionals would welcome stricter trading regulation for large banks and institutions. In the aftermath of JP Morgan’s trading loss, Jim Allen, CFA, says the fact that a major bank was caught is good for your clients, with “arguments for a lighter-touch Volcker Rule now sounding hollow.”

June 26, 2012

6 min read

Trans-Pacific Partnership invites Canada

The Wall Street Journal reports Prime Minister Stephen Harper has confirmed Canada will join the U.S. and several Asian nations in the group negotiating a trans-Pacific trade pact. The invitation to join the Trans-Pacific Partnership follows months of wrangling between Canadian and U.S. officials over the terms of entry into the group for Canada. Harper […]

1 min read

London Whale leaving JPMorgan; Regulation debate continues

Earlier this week, it was rumoured that Bruno Iksil would leave JP Morgan. And as it turns out, the rumours were true. Iksil is a French-born trader who manned the London office of JP Morgan. Prior to the company’s loss, he was nicknamed the “The London Whale”; he made risky trades and turned extremely bullish […]

May 17, 2012

3 min read

Anonymous Trader

FIRMS THAT WORK WITH HIGH ROLLERS KNOW PROTECTION OF IDENTITY IS A MUST. Rich people are concerned about everything from their children being kidnapped to getting harassed for money from estranged relatives.

By Melissa Shin |December 2, 2011

7 min read